Multiple Choice
What effective annual rate of return (EAR) would Rayne need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 30 years?
A) 5.98%
B) 6.55%
C) 4.87%
D) 6.14%
Correct Answer:
Verified
Correct Answer:
Verified
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